Bank Lending Channel Effectiveness and Loan Sales in the US

This paper examines whether banks that sell loans in the secondary market respond differently to a monetary policy innovation from those that do not engage in loan sales. We answer this question by measuring the policy response while controlling for loan sales activities. Using a simple theoretical model and U.S. bank-level Call Report longitudinal data for the period 1991Q1-2008 Q4, we conduct a dynamic panel regression analysis. We find that the long-run response to a typical policy shock is three times greater for mid-size banks engaging in loan sales. Given the increase in proportion of banks engaging in loan sales, this finding has strong implications for policy makers and bank industry volatility

A homoleptic phosphine adduct of Tl(I)

A homoleptic phosphine adduct of thallium(I) supported by a tris(phosphino)borate ligand has been isolated and structurally characterized

Tube shape selection for heat recovery from particle-laden exhaust gas streams

Heat recovery from exhaust gas streams is applicable to a wide variety of industries. Two problems encountered in exhaust gas heat recovery are: the high heat transfer resistance of gases and the presence of entrained particulate matter, which can limit the use of extended surface area. Standard heat exchangers use round tube. This study uses Computational Fluid Dynamics (CFD) to investigate whether round or another shape is the best tube selection for exhaust heat recovery. Tube shape rankings are based on taking into account heat transfer, gas flow resistance and foulability. Foulability is inferred from the average wall shear stress around the front or back of each shape. An estimated asymptotic fouling resistance is used to calculate an equivalent fouled j factor, jf. CFD results suggest the best tube for exhaust heat recovery is an elliptical tube. The ellipse shape produced j/f and jf/f ratios (where f is the tube bank friction factor) over 1.5 times larger than that of standard round tube. A flattened round tube is also promising and may be the practical and economic optimum

Cytomegalovirus disease in inflammatory bowel disease: epidemiology and disease characteristics in a large single-centre experience

BACKGROUND Patients with inflammatory bowel disease (IBD) show an increased risk of developing cytomegalovirus (CMV) disease because of immunosuppressive medication and malnutrition. Here, we aimed to investigate the prevalence and clinical characteristics of CMV disease in our cohort of IBD patients. PATIENTS AND METHODS We carried out a retrospective analysis of 1023 IBD patients treated at our IBD clinic at the University Hospital Zurich between 2007 and 2014. CMV disease was defined as a positive immunohistochemistry for CMV and 14 patients were identified. RESULTS The prevalence of CMV disease in our IBD cohort was 1.37%. Twelve patients had ulcerative colitis and two had Crohn's disease with colonic involvement. All patients who developed CMV disease received immunosuppressive medication or, as in one case, had HIV infection. The most used immunosuppressive medications were steroids and azathioprine. The most common therapeutic strategy was the consecutive use of ganciclovir and valganciclovir. Ten patients recovered and two were treatment refractory; among these, one required colectomy and two had a relapse. CONCLUSION CMV disease may influence the clinical course of IBD. There is probably an association between CMV disease and IBD-specific medication. Risk factors, epidemiology and therapeutic strategy need to be further investigated

Noise Thermometry with Two Weakly Coupled Bose-Einstein Condensates

Here we report on the experimental investigation of thermally induced fluctuations of the relative phase between two Bose-Einstein condensates which are coupled via tunneling. The experimental control over the coupling strength and the temperature of the thermal background allows for the quantitative analysis of the phase fluctuations. Furthermore, we demonstrate the application of these measurements for thermometry in a regime where standard methods fail. With this we confirm that the heat capacity of an ideal Bose gas deviates from that of a classical gas as predicted by the third law of thermodynamics.Comment: 4 pages, 4 figure

Interstate Voter Registration Database Matching: The Oregon-Washington 2008 Pilot Project

Voter registration databases maintain lists of registered voters that are used to determine who is and is not eligible to vote in an election. As such, accurate voter registration databases form a cornerstone of the electoral process. In the United States, each state maintains its own voter registration database. It is not uncommon for a voter to become registered in two states, for example as a result of moving from one state to the other or of living in one state and working in one another. In this paper, we report on a pilot interstate voter registration database matching project between the two states of Oregon andWashington whose goal was to explore the feasibility of using database matching to identify voters registered in the two states, and to do so with as much openness and transparency as possible. We describe the matching algorithms used, the procedures taken with found matches, and the resulting actions taken on actual voter registrations. We also discuss several directions for improving matching algorithms and procedures

Design trade-offs in feed systems for ultra-wideband VLBI observations

Due to the advanced capability of today’s ultra-wideband feed systems and low-noise amplifiers, interesting upgrades for future VLBI receiver and tele- scope design should be considered. Multiple input pa- rameters need to be taken into account for optimal sensitivity and applications of the future astronomical and geodetic observational systems. In this paper we present an overview of some trade-offs for wideband systems between SEFD, bandwidth and telescope re- flector optics. We evaluate receiver bandwidths from 3.5:1 to 10.3:1 bandwidth within the frequency range 1.5-24 GHz in different configurations. Due to poten- tial RFI-pollution of the lower frequencies we present potential feed upgrades for the most common reflector geometries ofVGOS and EVN telescopes that mitigate this problem. The results of this work is relevant for fu- ture VLBI stations and telescope design in general. Keyword

Molecular data storage with zero synthetic effort and simple read-out

Compound mixtures represent an alternative, additional approach to DNA and synthetic sequence-defined macromolecules in the field of non-conventional molecular data storage, which may be useful depending on the target application. Here, we report a fast and efficient method for information storage in molecular mixtures by the direct use of commercially available chemicals and thus, zero synthetic steps need to be performed. As a proof of principle, a binary coding language is used for encoding words in ASCII or black and white pixels of a bitmap. This way, we stored a 25 × 25-pixel QR code (625 bits) and a picture of the same size. Decoding of the written information is achieved via spectroscopic (1H NMR) or chromatographic (gas chromatography) analysis. In addition, for a faster and automated read-out of the data, we developed a decoding software, which also orders the data sets according to an internal “ordering” standard. Molecular keys or anticounterfeiting are possible areas of application for information-containing compound mixtures

Dual sites for SEC11 on the SNARE SYP121 implicate a binding exchange during secretory traffic

SNARE (soluble N-ethylmaleimide-sensitive factor attachment protein receptor) proteins facilitate vesicle traffic through their assembly in a heteromeric complex that drives membrane fusion. Much of vesicle traffic at the Arabidopsis (Arabidopsis thaliana) plasma membrane is subject to the Sec1/Munc18 protein SEC11, which, along with plasma membrane K+ channels, selectively binds with the SNARE SYP121 to regulate its assembly in complex. How SEC11 binding is coordinated with the K+ channels is poorly understood, as both SEC11 and the channels are thought to compete for the same SNARE binding site. Here, we identify a second binding motif within the N terminus of SYP121 and demonstrate that this motif affects SEC11 binding independently of the F9xRF motif that is shared with the K+ channels. This second, previously unrecognized motif is centered on residues R20R21 of SYP121 and is essential for SEC11 interaction with SYP121. Mutation of the R20R21 motif blocked vesicle traffic without uncoupling the effects of SYP121 on solute and K+ uptake associated with the F9xRF motif; the mutation also mimicked the effects on traffic block observed on coexpression of the dominant-negative SEC11Δ149 fragment. We conclude that the R20R21 motif represents a secondary site of interaction for the Sec1/Munc18 protein during the transition of SYP121 from the occluded to the open conformation that leads to SNARE complex assembly